Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax

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Wed 30 Dec 2015 16:34
Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax - oldroverboy.

Finally sold our old house a year after we moved, got the money, thinking of the car I would really really like, and decided not to, mostly because of the amount of vat on the sale, and the huge depreciation on the car i was thinking of.

So Plan B or C, buy myself something a bit different, lookswise but used and with a warranty or outright cheap and take the risk..

Risk taking budget up to 7k to allow for high ved (possibly) and not too much for insurance as would literally be a fun car.

Edited by oldroverboy. on 30/12/2015 at 16:37

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Wed 30 Dec 2015 19:41
Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax - Avant

Depends what you'd find 'fun', ORB! For £7k you could get a fairly decent MX-5 or Z4, or a convertible BMW 1- or 3-series or Audi A3 / A4.

Another idea of fun might be a stately old Rover 75 V6, so that you could live up to your name. Or some form of 6-cylinder Jaguar? If I didn't want a convertible as a fun car (I would) I'd personally go for a BMW 3-series with a straight-six.

Edited by Avant on 30/12/2015 at 19:43

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Wed 30 Dec 2015 20:01
Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax - RT

Save £20k in tax? Are you seriously wondering how to spend £120,000 ?

At that sort of budget you have to give your heart a vote even if the head gets the casting vote.

I don't know what "floats your boat" but I recently had the luxury of an (almost) unlimited budget so drew up a (very) short list of cars that met my "functional specification" - of the 2 left on the list, I chose the one that most suited my needs - and liked the idea it was £25k cheaper!

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Thu 31 Dec 2015 16:20
Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax - RobJP

I'd avoid the first series (soft top) Z4, the roof problems are well documented.

As an alternative, how about the Z4 coupe. A car that HJ personally reckons could become a future classic, due to the limited production run. Stunning looks, either a 3.0 or 3.2(M) engine, and currently available for pretty cheap money. Buy a good one, and you could be onto a bit of a winner. The ride can be a bit brutal though, so make sure you get a good test drive !

I must admit, I'm considering one myself. The 2015 Z4 cabrio is Mrs P's car (and a bit hairdresser for me), and there is a space in the garage that used to be occupied by a TVR Chimaera ...

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Fri 1 Jan 2016 00:14
Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax - jamie745

At 7k you're in pretty-decent-if-willing-to-buy-slightly-older-car Porsche Boxster territory.

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Fri 1 Jan 2016 16:18
Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax - SteveLee

MG ZT 260 I'm sure soon to be an appreciating classic.

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Fri 1 Jan 2016 23:15
Sold the old house,Got the cash.. - Don't want to give nearly 20K in tax - dimdip

MG ZT 260 I'm sure soon to be an appreciating classic.

Yes that's what came into mind here too. Someone on another forum said they have already started to appreciate again. And petrol is getting cheaper...

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